ISLAMABAD: The State Warehouse (SWH) BBIA Islamabad earned a revenue of Rs1.9million through open public auction of various confiscated goods held on the premises of the AFU building on 31st of January FY17-18.
According to details given by Assistant Collector Majid Hussain Gadd whil talking with Customs Today that, during above said auction held at the State Ware House (SWH) Islamabad, total five lots were offered for the auction. The total reserved price of the lots was estimated Rs1.09million while the received bid price was Rs1.81million plus Rs0.181million under the head of Income Tax (IT).
Explaining the details of the auction held on January 31, FY17-18, the Assistant Collector said the auction was well organized and transparent followed by the standard customs bylaws. Every winning bidder deposited 25% of the total amount on the spot and rest of the amount will have to be deposited within seven working days in the title account of the Customs SWH situated at the Islamabad airport.
Assistant Collector told CT that it was the first auction held at SWH AFU Islamabad during said period of 2017-18. The SWH AFU Islamabad received Rs3.976million of revenue through open public auction held on 18th of May Financial Year 2016-17.
